IRAs

Older clients who have lost a job prior to retirement are advised to first consider filing for unemployment insurance and begin making revisions to their budget.

Some tax credits are refundable, meaning they can get a refund in case the credits exceed their actual tax liability.

Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.

The Social Security retirement rate is based on their highest 35 years of wage-indexed earnings.

Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.

A Roth conversion “not only to minimize heirs’ tax burden but also to sustain the growth of [their] retirement savings."

The sweeping retirement legislation, called the Secure Act, is gaining plenty of headlines. One revision is being overlooked.

Taking advantage of catch-up contributions is one of several methods that can help them get back on track.

The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.

They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.